Published: 2018-06-12 14:23:57 CEST
Mainor Ülemiste
Company Announcement

Audited Consolidated Annual Report 2017

On 7 May 2018 the Supervisory Board Of Mainor Ülemiste AS approved the audited consolidated annual report of 2017. The consolidated annual report of 2017 together with the profit distribution proposal were approved on 29 May 2018 by the Annual General Meeting Of Shareholders Of Mainor Ülemiste AS.

In 2017, the company was mainly engaged in the construction of new buildings, renovation of existing buildings, renting new and renovated premises and with the preparation of new real estate projects. Mainor Ülemiste AS consolidated turnover in 2017 amounted to 7,686 thousand euros (2016: 5,729 thousand euros), other operating income amounted to 1,456 thousand euros (2016: 1,765 thousand euros) and net income amounted to 8,522 thousand euros (2016: 6,417 thousand euros). As of the end of the financial year the total equity of the company was 91,937 thousand euros.

In 2017, a total of 15,835 thousand euros was invested into the construction of buildings and improvement of equipment. The amount of received loans during 2017 was in total 26,696 thousand euros and loan repaiments reached 9,569 thousand euros. To raise capital for the further development of Ülemiste City commercial district, the first phase of a new bond issue of 10,000 thousand euros was carried out in amount of 2,650 thousand euros. Second phase of issue took place in Aprill 2018. The fair value of real estate investments of Mainor Ülemiste AS as of the end of the year was 102,070 thousand euros and it has increased compared to previous year by 17,260 thousand euros.

The audited Consolidated Annual Report for 2017 of Mainor Ülemiste AS is available on the Nasdaq Tallinn web page.


Margus Nõlvak


Phone: +372 504 1010


         Mainor Ülemiste AS
         Valukoja 8
         11415 Tallinn, Estonia
         Phone: +372 5304 6992

AS Mainor Ulemiste Audited Consolidated Annual Report 2017.pdf